Canada Pension Plan Investment Board Takes $55.17 Million Position in Axsome Therapeutics, Inc. $AXSM

Canada Pension Plan Investment Board bought a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 2nd quarter, Holdings Channel.com reports. The firm bought 225,400 shares of the company’s stock, valued at approximately $55,171,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Axsome Therapeutics by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock valued at $2,557,000 after purchasing an additional 1,002 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Axsome Therapeutics by 2,407.9% in the first quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock worth $889,000 after buying an additional 7,320 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Axsome Therapeutics by 38.7% in the first quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock valued at $35,189,000 after buying an additional 84,151 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at about $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Axsome Therapeutics by 29.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock valued at $8,735,000 after buying an additional 17,250 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AXSM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Friday, July 17th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, June 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $272.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Guggenheim boosted their target price on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Robert W. Baird upped their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $267.60.

Axsome Therapeutics Stock Down 0.4%

Shares of NASDAQ AXSM opened at $206.27 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. Axsome Therapeutics, Inc. has a 1 year low of $112.90 and a 1 year high of $260.19. The stock’s 50-day simple moving average is $228.46 and its 200-day simple moving average is $206.78. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of -55.01 and a beta of 0.65.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The business had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. As a group, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Coleman sold 6,000 shares of Axsome Therapeutics stock in a transaction on Monday, June 1st. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00. Following the completion of the sale, the director owned 35,140 shares in the company, valued at approximately $8,092,742. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roger Jeffs sold 286 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total transaction of $70,407.48. Following the completion of the sale, the director directly owned 58,653 shares in the company, valued at $14,439,195.54. This represents a 0.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 194,766 shares of company stock worth $45,284,886 over the last 90 days. 20.60% of the stock is currently owned by corporate insiders.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.